KUALA LUMPUR: Yakin Medic Sdn Bhd, a leading Malaysian provider of active live stem cell therapies, is set to expand into new markets as part of its broader growth strategy.
To support this expansion, the company plans to launch an initial public offering (IPO) on the Singapore Exchange (SGX) Catalist Board, which is targeted for the fourth quarter of 2025 or early 2026.
The official signing ceremony for the Yakin Medic Pre-IPO Singapore Exchange Engagement Agreement was witnessed by YB Dato’ Sri Tiong King Sing, Minister of Tourism, Arts & Culture and Bhargav Sriganesh, First Secretary of the Singapore High Commission at the Ministry of Foreign Affairs, Singapore.
Besides that, YB Dato’ Mohammad Yusof Apdal, the Deputy Minister of Science, Technology, and Innovation, extended his congratulations to the company on its upcoming IPO plan.
The agreement was signed between Yakin Medic, represented by Mr Patrick Tan; Evolve Capital Advisory, represented by Mr Jerry Chua from Singapore; and MCI Capital, represented by Ms Cannis Chan, marking a key step in facilitating the group’s upcoming IPO exercise.
The IPO is projected to raise approximately RM100 million, with RM70 million earmarked for repurposing and further developing an existing factory lot in Cyberjaya. The remaining funds will be used to support expansion into overseas markets, enhance research and development (R&D) efforts, and establish satellite laboratories.
Founder Patrick Tan stated that Yakin Medic is collaborating with Evolve Capital Advisory, a leading boutique investment banking firm in Singapore, as its sponsor and issue manager to manage the IPO listing process.
Additionally, MCI Capital Sdn Bhd, a private equity firm managing RM250 million in assets, has been secured as Yakin Medic’s cornerstone investor utilising the ASIA IPO FUND. This dynamic capital fund catalyses growth and development across multiple sectors, particularly the capital market, with a fund size reaching up to RM250 million. A significant portion of this will go towards assisting Malaysia’s small and medium enterprises (SMEs), especially the pre-IPO of Yakin Medic, to grow their businesses and set them on a path toward IPO.
“The proceeds from our IPO will primarily fund Yakin Medic’s expansion into live stem cell therapies, alongside other healthcare initiatives. This investment marks a significant milestone in our growth journey, fortifying our position to advance next-generation stem cell treatments globally. Our mission is to empower individuals to manage their health through accessible, seamless, and everyday medical services,” said Tan.
He noted that the commissioning and developing of a new manufacturing facility in Cyberjaya would take approximately 1.5 years.
“We aim to produce stem cells for 5,000 patients annually by 2027. This is a highly lucrative field for those equipped with the right technology,” he said.
Tan emphasised that regenerative medicine and stem cell therapies are revolutionising healthcare, offering groundbreaking solutions to some of the world’s most complex health challenges.
“Leveraging advancements in technology and science, regenerative medicine is transforming the treatment landscape for degenerative diseases, ageing, and chronic illnesses. It offers hope for improved health outcomes and an enhanced quality of life,” he stated.
Tan underscored the vast potential of this multi-billion-dollar industry, citing forecasts that the global stem cell therapy market, according to a new report published by Verified Market Research, is projected to grow at a compound annual growth rate (CAGR) of 13.95 per cent from 2024 to 2030. The report reveals that the market was valued at USD 11.8 billion in 2023 and is expected to reach USD 31.41 billion by the end of the forecast period.
“Collaboration with leading biotechnology firms will significantly enhance access to these innovative therapies,” he said.
“This partnership not only upholds excellence in stem cell research but also drives public discourse on the ethical, legal, and societal dimensions of stem cell science,” he added.
With its steadfast focus on pioneering research, patient care, and global partnerships, Yakin Medic is well-positioned to shape the future of regenerative medicine and extend the promise of stem cell therapies to individuals worldwide.
